This assignment is intended to help you learn to do the following:

Apply legal principles necessary to create a business organization.

Recognize, analyze, and discuss various legal problems presented in specific situations.

Develop critical thinking and case-analysis skills.

Overview

Starting a business involves planning, making key financial decisions, and completing a series of activities. Market research will tell you if there’s an opportunity to turn your idea into a successful business. It’s a way to gather information about potential customers and businesses already operating in your area. Use that information to find a competitive advantage for your business. This assignment provides you with some essential elements used to determine if your business idea will be viable.

Action Items

Log into the U.S. Small Business Administration website and click on the Business Guide.

Read through the following topic areas to become familiar with the stages of business development: Plan, Launch, Manage, Grow.

Choose a type of business organization that you would like to create and develop the initial steps of a business plan.

Develop a paper, including a reference page, using the following outline:

Plan Your Business

Company Name and Description

Legal Issues

Start-up Costs

Launch Your Business

Business Location

The rationale for Business Location

Business Structure

The rationale for Business Structure

Liability & Taxation

Manage Your Business

The Company Team

Employment Law Issues

Emergency Preparedness

Grow Your Business

Local Resources

Business Characteristics

Submit the assignment before the scheduled class meeting for this module. Important note: you must submit this assignment before the class meeting even if you are unable to attend.

Be prepared to do a 2- to the 3-minute presentation (in a format of your choice) regarding your business during class.